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Social media marketing

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NIRAJ JOSHI
HPGD/OC15/1498

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Social networks are communities of people who typically share a common behavior , idea interest ,activity .
A social netwo...
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Social media marketing

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Social media marketing

  1. 1. NIRAJ JOSHI HPGD/OC15/1498
  2. 2. Social networks are communities of people who typically share a common behavior , idea interest ,activity . A social networks indicates a graphs of relationship (social familiarities ) within a group of individuals ( people , organizations). the most popular sites facebook , google+, twitter , likedin etc In fact the usage of social media marketing sites has been so diverse that many people use it for more than just entertainment Today these websites provides a host of opportunities to its Users ranging from marketing their products increasing awareness on social issue , sharing photos , video calls ,Joining groups and forms of interests promoting an idea , finding family roots finding a lost friend , gaming , entertainment application and so on .
  3. 3. Social media marketing is widely used in various businesses like small business, banking, retail marketing, B2B marketing, travel and tourism marketing, financial institutions marketing and so on. Social Media Marketing is marketing that focus on people , not on products . With the explosion of internet based messgaes trasmitted through the social media , they are now a main factor in influencing many aspects of consumers behaviour such as - awareness -Consideration -information gahthering -opinions -atitudes -purchasing decisions - post -purchase evauation. Also, what is important about Social Media Marketing is that marketer can listen , track , and measure what is shared on the social media in order to improve the offered messgae and adapt it more to the customer need
  4. 4. The internet has now become the most common tool that consumers use to find inforamation on prodcts and services that they are considering buying . The effects of social media are really important as a social feedback loop is created through the use of Social Media and will highly influence the consideration stage of the purchase channel . Social Media Marketing services in india and the world over can be utilized to gain maxmum visbility , improved sales , and better brand awareness . Companies offering different types of digital services use a number of social media marketing platforms to help busniesses promotes their business . Therefore socail media largely affects customers purchase decisions , because consumers usually seek other opinions and recommandations . It has helped a number of online business to constantly contact their users in very effective way .
  5. 5. social media marketing 8 Essential Elements of a Social Media Marketing Strategy #1: Identify Business Goals Every piece of your social media strategy serves the goals you set. You simply can’t move forward without knowing what you’re working toward. Look closely at your company’s overall needs and decide how you want to use social media to contribute to reaching them. GOALS 1.TIMELY 2.SPECIFIC 3.REACHABLE 4.ETHICAL 5.MEASURABLE 6.ACHIEVABLE 7.REALISTIC
  6. 6. #2: Set Marketing Objectives Goals aren’t terribly useful if you don’t have specific parameters that define when each is achieved. For example, if one of your primary goals is generating leads and sales, how many leads and sales do you have to generate before you consider that goal a success? Marketing objectives define how you get from Point A (an unfulfilled goal) to Point B (a successfully fulfilled goal). You can determine your objectives with the S-M-A-R-T approach: Make your objectives specific, measurable, achievable, relevant and time-bound. Your objective of increasing leads by 50% may be specific, measurable, achievable and relevant, but if you don’t set a deadline for achieving the goal, your efforts, resources and attention may be pulled in other directions. #3: Identify Ideal Customers When you know your target audience’s age, occupation, income, interests, pains, problems, obstacles, habits, likes, dislikes, motivations and objections, then it’s easier and cheaper to target them on social or any other media.
  7. 7. The more specific you are, the more conversions you’re going to get out of every channel you use to promote your business. #4: Research Competition When it comes to social media marketing, researching your competition not only keeps you apprised of their activity, it gives you an idea of what’s working so you can integrate those successful tactics into your own efforts. Start by compiling a list of at least 3-5 main competitors. Search which social networks they’re using and analyze their content strategy. Look at their number of fans or followers, posting frequency and time of day. The most important activity to look at is engagement. Even though page admins are the only ones who can calculate engagement rate on a particular update, you can get a good idea of what they’re seeing. #5: Choose Channels and Tactics Many businesses create accounts on every popular social network without researching which platform will bring the most return. You can avoid wasting your time in the wrong place by using the information from your buyer personas to determine which platform is best for you.
  8. 8. Social Media Marketing Your tactics for each social channel rely on your goals and objectives, as well as the best practices of each platform. For example, if your goal is increasing leads and your primary social network is Facebook, some effective tactics are investing in Facebook advertising or promotion campaigns to draw more attention to your lead magnets. #6: Create a Content Strategy Content and social media have a symbiotic relationship: Without great content social media is meaningless and without social media nobody will know about your content. Use them together to reach and convert your prospects. There are many studies that give you a specific time when you should post on social media. However, I suggest using those studies as guidelines rather than hard rules. Remember, your audience is unique, so you need to test and figure out the best time for yourself. #7: Allocate Budget and Resources Make a comprehensive list of the tools you need (e.g., social media monitoring, email marketing and CRM), services you’ll outsource (e.g., graphic design or video production) and any advertising you’ll purchase. Next to each, include the annual projected cost so you can have a high-level view of what you’re investing in and how it affects your marketing budget.
  9. 9. Social Media Marketing #8: Assign Roles Knowing who’s responsible for what increases productivity and avoids confusion and overlapping efforts. Things may be a bit messy in the beginning, but with time team members will know their roles and what daily tasks they’re responsible fo When everyone knows his or her role, it’s time to start planning the execution process. You can either plan daily or weekly. I don’t advise putting a monthly plan together because lots of things will come up and you may end up wasting time adapting to the new changes. Your Turn Your social media marketing strategy isn’t written in stone. As you move forward, you may discover that some tactics are not working as well as you thought they would. Always try to adapt quickly and introduce the new changes to your overall strategy. IMPORTANCE OF SOCIAL MEDIA IN TODAY’S WORLD This can be achieved by channelizing a greater part of promotion and advertising budget for activities such as networking, volunteering, hosting events and so on.
  10. 10. Social Media Marketing 1 .Increased Brand Recognition Every opportunity you have to syndicate your content and increase your visibility is valuable. Your social media networks are just new channels for your brand’s voice and content. This is important because it simultaneously makes you easier and more accessible for new customers, and makes you more familiar and recognizable for existing customers. 2.Improved brand loyalty. According to a report published by Texas Tech University, brands who engage on social media channels enjoy higher loyalty from their customers. The report concludes “Companies should take advantage of the tools social media gives them when it comes to connecting with their audience. 3 More Opportunities to Convert. Every post you make on a social media platform is an opportunity for customers to convert. When you build a following, you’ll simultaneously have access to new customers, recent customers, and old customers, and you’ll be able to interact with all of them.
  11. 11. Social Media Marketing 4 . Higher conversion rates. Social media marketing results in higher conversion rates in a few distinct ways. Perhaps the most significant is its humanization element; the fact that brands become more humanized by interacting in social media channels. Social media is a place where brands can act like people do, and this is important because people like doing business with other people; not with companies. 5 . Higher Brand Authority. Interacting with your customers regularly is a show of good faith for other customers. When people go to compliment or brag about a product or service, they turn to social media. And when they post your brand name, new audience members will want to follow you for updates. 6. Increased Inbound Traffic Without social media, your inbound traffic is limited to people already familiar with your brand and individuals searching for keywords you currently rank for. Every social media profile you add is another path leading back to your site, and every piece of content you syndicate on those profiles is another opportunity for a new visitor. 7.Decreased Marketing Cost Start small and you’ll never have to worry about going over budget—once you get a better feel for what to expect, you can increase your budget and increase your conversions correspondingly.
  12. 12. Social Media Marketing 8.Better Search Engine Rankings. being active on social media could act as a “brand signal” to search engines that your brand is legitimate, credible, and trustworthy. That means, if you want to rank for a given set of keywords, having a strong social media presence could be almost mandatory. 9. Richer Customer Experiences. Social media, at its core, is a communication channel like email or phone calls. Every customer interaction you have on social media is an opportunity to publicly demonstrate your customer service level and enrich your relationship with your customers. 10 Improved Customer Insights Social media also gives you an opportunity to gain valuable information about what your customers are interested in and how they behave, via social listening. Your competitors are already involved on social media, which means your potential social media traffic and conversions are being poached. Don’t let your competitors reap all the benefits while you stand idly by. If, somehow, your competition is not involved on social media, there’s even more of a reason to get started—the field is open. The Sooner You Start, the Sooner You Reap the Benefits.
  13. 13. Social Media Marketing SOCIAL MEDIA FOR BUSINESS TO BUSINESS MARKETING Social media usage creates opportunity, social media usage helps in understanding customers, social media usage helps in relationship management, social media usage aids in relationship sales performance and social media usage helps in outcome based sales performance. Thus taking all these into consideration, it can be concluded that social media usage helps in developing B2B sales. With over 955 million active users, Facebook tops the social media in terms of usage and number of active users (Mashable website, 2013). Thus it is important to know how Facebook can be used for B2B marketing. FACEBOOK FOR B2B MARKETING The following things need to be kept in mind while promoting business through Facebook: (1) The utmost important thing is to get as many people to ‘like’ the official company page. Also contents must be added frequently so that users constantly get the news of the company through the news feed on their home page. This will keep them updated about what is going on in the company. (2) Secondly communicate to the customers visually as opposed to text only communication. Facebook uses an algorithm which gives more priority to videos and photos than text and increases visibility of news item proportional to the number of people commenting or liking ·
  14. 14. Social Media Marketing SOCIAL MEDIA FOR BUSINESS TO CONSUMER MARKETING Social media can be effectively used for various B2C clients to increase sales. This includes business markets such as travel and tourism, banks, retail outlets and so on. SOCIAL MEDIA FOR TRAVEL AND TOURISM Various industries within the travel industry are focusing on social media marketing along with the traditional marketing techniques. The airline industry is one which heavily relies on social media for promotions and advertisements. On the other hand maintaining more than one official page on the social media can help to clearly distinguish between various functionalities of the company. TWITTER FOR THE TRAVEL INDUSTRY For pleasant holidays, the major reason they use Twitter is to communicate last minute deals to its customers and other travel agents. Carnival Cruise Lines address customer queries most effectively so that Twitter is more of a communication medium between the company and the customers. Thus different strategies are adopted by different travel operators for marketing through twitter. This strategy has proved successful for all the travel agents because their growth in terms of number of followers is whooping.
  15. 15. Social Media Marketing FACEBOOK FOR BANK MARKETING Financial institutions like banks use Facebook as a tool to deepen existing potential customers. Evidently Facebook is a place where people like to spent time in. When a company’s presence is felt on a place where you want to be, there are more chances that the company’s brand building boosts up as a by-product of the liking for the social media website as a whole. Use Facebook to create experiences, services and values unique to Facebook users. This can be surveys, games and so on Place interactive contents like videos and photos which will drive the customers towards the bank’s official pages TWITTER FOR BANK MARKETING However, many banks have already started using twitter as a means to communicate with their customers. Frequent tweets should be written in order to engage customers and this may require an additional person in marketing to keep the page live and updated at all times . SOCIAL MEDIA FOR RETAILERS Many retailers are already reaping the benefits of being on Twitter.
  16. 16. Social Media Marketing 10 Social Media Marketing Do’s 1. Save Time, Re-purpose Content. 2. Interaction is Where It’s At! 3. Try Multiple Media Types. 4. For Pete’s Sake! Make it Searchable. 5. Keep Calm in Crisis 6. Customize the Flow 7. Don’t Let Just Anyone Represent Your Brand 8. What Was the Purpose of This Again? 9. Pull Out the Tool Box and Find Your Measuring Tape 10. Be Innovative, or at Least Open to Innovation
  17. 17. Social Media Marketing 10 Social Media Marketing Don’ts #1: Hello? Is Anyone Listening? #2:Have You Ever Tried to Have a Conversation With a Robot? #3: I Know You Are But What Am I? #4: Accounts Covered in an Inch of Dust. #5: One Size Does Not Fit All. #6: The Nameless & Faceless Group from Company XYZ #7: Taking Your Relationship To the Next Step. #8: We Really Care About You. Just Kidding. #9: We Have No Idea What is Important To You. #10: What Are All of These Followers For Anyways?
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  20. 20. Social Media Marketing FINDINGS AND DISCUSSIONS It is clear from the literature review that usage of social media for marketing has been embraced by businesses of all kinds. It is proved that business to business marketing and business to consumer marketing is possible and highly effective through the usage of social media especially Facebook, Twitter and LinkedIn. It also focusses on how social media usage can enhance small businesses. Merely implementation of social media may not be useful for businesses but there should be a way to measure the impact of using social media for marketing. IMPLEMENTATION OF SOCIAL MEDIA MARKETING An important aspect of social media marketing is that the results of social media marketing will be known only after some time of implementation. Merely setting up a page on any social networking site such as Facebook, Twitter or LinkedIn is not enough to generate sales. The most important part of implementation is that it should regularly and frequently be updated.

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